Asston Pharmaceuticals IPO
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Schedule of Asston Pharmaceuticals
| Issue open date | 09 Jul 2025 |
| Issue close date | 11 Jul 2025 |
| UPI mandate deadline | 11 Jul 2025 (5 PM) |
| Allotment finalization | 14 Jul 2025 |
| Refund initiation | 15 Jul 2025 |
| Share credit | 15 Jul 2025 |
| Listing date | 16 Jul 2025 |
| Mandate end date | 26 Jul 2025 |
| Lock-in end date for anchor investors (50%) | 13 Aug 2025 |
| Lock-in end date for anchor investors (remaining) | 12 Oct 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Asston Pharmaceuticals
Asston Pharmaceuticals manufactures pharmaceutical formulations and nutraceutical products for domestic and African markets under the “Asston” brand. Operating from its Ambernath, Maharashtra facility, the company produces tablets, capsules, oral liquids, external preparations, and oral powders with a capacity of 8-9 crore tablets per month.
The company maintains separate production floors for pharmaceutical and nutraceutical products to comply with FDA and FSSAI standards. Working with five WHO-GMP certified contract manufacturers, Asston holds over 150 registered trademarks and distributes products globally, particularly in South Africa and West African regions. Founded in 2019, the company operates with over 50 team members under experienced promoters.
Financials of Asston Pharmaceuticals
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹27.56 crores |
| Fresh Issue | ₹27.56 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Funding capital expenditure requirements towards acquiring machinery in the manufacturing unit. | 6 (21.77%) |
| Funding the incremental working capital requirements of the Company. | 13 (47.17%) |
| Repayment and/or prepayment, in part or full, of certain of the outstanding borrowings. | 1 (3.63%) |
| General corporate purposes | – |
Strengths
- Promoters with 30+ years’ global pharma experience drive brand and compliance.
- Diverse product portfolio across dosage forms strengthens global market adaptability.
- Facilities strategically located near ports and airports, enabling efficient global exports.
- Skilled workforce ensures quality compliance across outsourced manufacturing and distribution.
- Strong relationships with WHO-GMP certified contract manufacturers ensure quality compliance.
- Outsourced manufacturing enables asset-light operations with minimal regulatory or capex risks.
Risks
- Non-compliance with evolving pharma regulations may disrupt operations and approvals.
- Dependence on third-party manufacturers may impact supply consistency and quality.
- High customer concentration and lack of contracts increase revenue vulnerability.
- Loss of non-exclusive manufacturing tie-ups may disrupt supply and revenue.
- Lengthy working capital cycle and receivables pose liquidity and funding risks.
- Inability to retain skilled talent may impact growth and operations.
- Sustained cash flow deficits and IP misuse could hamper future growth.
- High competition in generics, nutraceuticals may pressure margins and growth.
Allotment Status for Asston Pharmaceuticals
To check your allotment status – click here.
Subscription Figures for Asston Pharmaceuticals
Subscription numbers as of 5:00 PM on 11 July 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 4.25 | 364.49 | 85.76x |
| NII | 3.22 | 1137.10 | 353.14x |
| Retail | 7.46 | 1283.58 | 172.06x |
| Total | 14.93 | 2785.17 | 186.55x |